Pressure Reducing Valve Market by Product (Direct Acting Pressure Reducing Valve, Pilot-Operated Pressure Reducing Valve), by Application (Oil & Gas, Power Generation, Petrochemical & Chemical, Mining, Waterworks & Wastewater) and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity 2019-2024

Pressure reducing valves are designed to reduce incoming water or steam pressure to a safer constant predetermined downstream level. Pressure reducing valves are used in industries such as oil & gas, chemical processing, power generation, pharmaceuticals, pulp & paper, and food & beverages, among others. The analysts forecast the global pressure reducing valve market to exhibit a CAGR of 4.8% during the period 2019 2024. The report covers the present scenario and the growth prospects of the global pressure reducing valve for 2019 2024. To calculate the market size, the report considers the pressure reducing valve sales volume and revenue.

A pressure reducing valve (PRV) is equipment utilized for reducing incoming water or steam pressure. It is also used to safeguard the installation from noises in the pipes, water hammers, splashes, and premature wear of household electrical appliances and taps. Besides this, it assists in plumbing, conserving water, saving money on utility bills, and extending the lifespan of fixtures and appliances. As it is easy to install and reliable, a PRV is widely employed in residential, commercial, institutional, and industrial applications across the globe. Pressure reducing valve market is driven due to the excellent protection offered by the pressure reducing valve against leakage along with its ability to bring down the pressure of fluid and gasses used in industries for various purposes. Moreover, the commercial and household uses of pressure reducing valves are adding to the market growth. These valves reduce the water pressure which goes through it and obtains a constant and regulated value at its outlet.A considerable expansion in the oil and gas industry, in confluence with the extensive investments in research and development (R&D) activities, represents one of the key factors driving the market. PRVs aid in maintaining pressure in the pipeline and preventing pipes from bursting. They also find application in protecting against leakage and preventing overheating of pipes. As a result, there is a rise in the need for these valves in the petroleum and oil industry around the world. Apart from this, the rising adoption of these valves in fire safety trucks is also supporting the market growth. This can be accredited to their pressure controlling mechanism, which is required during the emission of water. Furthermore, leading players are introducing flow modulated PRVs that produce constant pressure at critical points within the distribution system. This, along with the significant investments in new refineries, development of existing facilities and increasing mergers and acquisitions (M&G), are some of the other factors fueling the market growth. The market is projected to propel in the coming years on account of rapid urbanization and industrialization worldwide.

Furthermore, the demand for the pressure reducing valves is driven by ability to operate in the harsh industrial environment. The growing demand across the industrial facilities to monitor the performance of the valve is driving the market growth. Additionally, the growing automation across the industrial facilities and the integration of the IoT devices is further accelerating the demand for the pressure reducing valve market. The increasing application of the pressure reducing valve in the steam application due to their capability to control pressure via fully automatic and no external power source is driving the market growth. Whereas, the liquid segment is projected to grow at a substantial rate due to wide-scale adoption of valve among the wastewater management application. North America led the pressure reducing valve market. The large scale adoption of the pressure reducing valve across the oil & gas industry in the region is supporting the market growth. The increasing automation in the oil & gas industry in the region is developing numerous opportunities for the growth of the market. Furthermore, the presence of large power generation plants also supports the growth of the market in the region. Generally, valves are often placed at a pipeline distance of less than 10% of the total length of the pipeline for effective and easy control of gas in oil and gas and other industries. According to the Indian Oil Corporation Ltd. (IOCL), the natural gas pipeline network in India increased from 10,900 km to 15,000 km with an investment of US$ 1.5 Bn from 2015 to 2016. Moreover, countries such as the U.S and the U.K. are expected to invest significantly in pipeline sector. For instance, in 2016, the U.S. government launched Dakota Access Pipeline Project, which is expected to carry 470,000 barrels per day of crude for 1,172 miles. Therefore, high growth of pipeline sector is expected to boost growth of the global valves market in the near future.

COVID-19 Impact

Most industries across the world have been negatively impacted over the last 18 months. This can be attributed to significant disruptions experienced by their respective manufacturing and supply-chain operations as a result of various precautionary lockdowns, as well as other restrictions that were enforced by governing authorities across the globe. The same applies to the global Pressure Reducing Valve market. Moreover, consumer demand has also subsequently reduced as individuals are now more keen on eliminating non-essential expenses from their respective budgets as the general economic status of most individuals have been severely affected by this outbreak. These aforementioned elements are expected to burden the revenue trajectory of the global Pressure Reducing Valve market over the forecast timeline. However, as respective governing authorities begin to lift these enforced lockdowns, the global Pressure Reducing Valve market is expected to recover accordingly.

The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets, product, and application.

Geographically, the global pressure reducing valve market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and South America. This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub segments from 2019 to 2024.
North America (U.S., Canada, Mexico, etc.)
Asia Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.)
Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
Middle East & Africa (Turkey, Saudi Arabia, Iran, Egypt, Nigeria, UAE, Israel, South Africa, etc.)
South America (Brazil, Argentina, Colombia, Chile, Venezuela, Peru, etc.)

On the basis of product, the global pressure reducing valve market is segmented into:
Direct Acting Pressure Reducing Valve
Pilot Operated Pressure Reducing Valve

Based on application, the pressure reducing valve market is segmented into:
Oil & Gas
Power Generation
Petrochemical & Chemical
Mining
Waterworks & Wastewater

The report also includes a discussion of the key vendors operating in this market. Some of the leading players in the global pressure reducing valve market are:
Conbraco Industries Inc.
Eaton Corporation Inc
Honeywell International Inc.
KSB SE & Co. KGaA
Mueller SV, Ltd. (Singer Valve, LLC)
Parker Hannifin Corporation
Reliance Worldwide Corporation (UK) Ltd.
Spirax Sarco Engineering plc
TALIS Management Holding GmbH
Watts Water Technologies, Inc.
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Objective of the study:
To analyze and forecast the market size of global pressure reducing valve market.
To classify and forecast global pressure reducing valve market based on region, product, and application.
To identify drivers and challenges for global pressure reducing valve market.
To examine competitive developments such as expansions, mergers & acquisitions, etc., in global pressure reducing valve market.
To conduct pricing analysis for global pressure reducing valve market.
To identify and analyze the profile of leading players operating in global pressure reducing valve market.

The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Key target audience are:
Manufacturers of pressure reducing valve
Raw material suppliers
Market research and consulting firms
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to pressure reducing valve

The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with pressure reducing valve suppliers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases.

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Manmayi Raval

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